Canandaigua National Bank & Trust Co. Makes New Investment in GoDaddy Inc. (NYSE:GDDY)

Canandaigua National Bank & Trust Co. purchased a new position in shares of GoDaddy Inc. (NYSE:GDDY) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 1,180 shares of the technology company’s stock, valued at approximately $233,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC acquired a new position in shares of GoDaddy during the third quarter worth approximately $27,000. ORG Wealth Partners LLC acquired a new position in GoDaddy during the 3rd quarter worth $30,000. Anchor Investment Management LLC bought a new position in GoDaddy in the 3rd quarter valued at $31,000. Versant Capital Management Inc acquired a new stake in shares of GoDaddy in the 4th quarter valued at $43,000. Finally, Huntington National Bank raised its position in shares of GoDaddy by 298.7% during the third quarter. Huntington National Bank now owns 307 shares of the technology company’s stock worth $48,000 after acquiring an additional 230 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Piper Sandler lifted their price objective on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Cantor Fitzgerald reissued a “neutral” rating and set a $170.00 price target on shares of GoDaddy in a research note on Monday, October 7th. JPMorgan Chase & Co. raised their price objective on shares of GoDaddy from $175.00 to $224.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $230.00 target price (up previously from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Finally, Citigroup lifted their price objective on GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, GoDaddy currently has a consensus rating of “Moderate Buy” and an average target price of $187.71.

GoDaddy Price Performance

Shares of NYSE GDDY opened at $195.58 on Wednesday. GoDaddy Inc. has a twelve month low of $100.43 and a twelve month high of $211.11. The company has a market cap of $27.46 billion, a PE ratio of 15.11 and a beta of 1.15. The business’s 50 day moving average price is $193.67 and its two-hundred day moving average price is $167.80. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61.

GoDaddy (NYSE:GDDY) last posted its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. GoDaddy’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.89 EPS. On average, analysts predict that GoDaddy Inc. will post 4.96 EPS for the current year.

Insider Transactions at GoDaddy

In other news, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total value of $1,094,555.00. Following the completion of the sale, the chief financial officer now directly owns 84,300 shares in the company, valued at approximately $16,776,543. The trade was a 6.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $164.16, for a total value of $164,160.00. Following the sale, the chief operating officer now directly owns 186,632 shares in the company, valued at $30,637,509.12. This represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,003 shares of company stock worth $4,626,523. Company insiders own 0.61% of the company’s stock.

About GoDaddy

GoDaddy Inc engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce, and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content.